|LIVE NOW| Meerkat Raises $12M From Greylock At A $40M Valuation

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If you’re reading TechCrunch right now (you are, by the way), chances are you have at least heard of Meerkat. You may even be simultaneously hoping that you don’t have to fall prey to the new SXSW sweetheart before the trend of live broadcasting is over. But this is no Yo.

Sources familiar with the matter tell TechCrunch that Meerkat has closed on a $12 million Series B led by Greylock’s Josh Elman, with participation from other unknown angels. One source, who wished to remain anonymous, said that the deal valued Meerkat at $52 million post-investment. We’re also told that Greylock put in the majority (between $9M and $10M), with the rest of the Series B stock being picked off by angels.

Meerkat (company name Life on Air, Inc. and formerly Yevvo) raised just over $3.5 million in seed and Series A funding in January of this year, according to an SEC filing. But given Meerkat’s traction over the last month — Meerkat topped 160k users earlier this week, before folks like Snoop Dogg and Jimmy Fallon joined the mob — a quick Series B makes sense given the situation.

We’re told by sources that Meerkat has now topped 300K users total, more than 200K of which come from the iOS app.

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OverviewLife On Air's mission is to connect people in the most human way possible while physically apart. Our latest product, Houseparty, it the best manifestation of that vision thus far.
Houseparty is currently available for for iPhone and Android (beta).
Previous products by our team: Meerkat (tweet live video), Air and Yevvo.

OverviewTwitter is a global social networking platform that allows its users to send and read 140-character messages known as “tweets”. It enables registered users to read and post their tweets through the web, short message service (SMS), and mobile applications.
As a global real-time communications platform, Twitter has more than 400 million monthly visitors and 255 million monthly active users around …

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